TJX Cos. (TJX) Raises Quarterly Dividend 24.8% to $0.39; Plans to Increase Buyback

TJX Cos. (NYSE: TJX) declared a quarterly dividend of $0.39 per share, or $1.56 annualized. This is a 24.8% increase from the prior dividend of $0.3125.

The dividend will be payable on June 7, 2018, to stockholders of record on May 17, 2018, with an ex-dividend date of May 16, 2018.

The annual yield on the dividend is 1.9 percent.

Ernie Herrman, Chief Executive Officer and President of The TJX Companies, Inc., stated, “I am pleased to report that our Board of Directors has approved a 25% increase in our quarterly dividend. This marks our 22nd consecutive year of dividend increases. Over this period, the Company’s dividend has grown at a compound annual rate of 23%. In addition, we plan to increase our share buyback program, with approximately $2.5 to $3.0 billion of repurchases planned for Fiscal 2019. TJX continues to generate tremendous amounts of cash and excellent financial returns. Further, we are expecting a substantial cash benefit as a result of the recent changes in U.S. federal tax law, which is reflected in our plan to significantly increase our dividend and share buyback programs. These actions underscore our confidence in our ability to continue delivering profitable sales and strong cash flow that enables us to simultaneously reinvest in the growth of the business and return value to our shareholders.”

For a dividend history and other dividend-related data on TJX Cos. (TJX) click here.

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